As Crypto World Watches for Spot Bitcoin ETF, SEC Chair Gensler Says (Again) Sector is Dangerous

The entire crypto world and much of the U.S. financial sector is anxiously awaiting word from the U.S. Securities and Exchange Commission (SEC) on whether it will approve a spot bitcoin exchange-traded fund (ETF). SEC Chair Gary Gensler has chosen this moment to issue a broad warning about the hazards to investors of getting into digital assets.

Gensler – as he’s done many times – posted on X to warn people that the crypto sector is beset by scams and fraud, and that many companies in the space aren’t following securities laws.

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It’s unclear whether Gensler’s words represent a final dig before the agency – as many expect – approves ETF applications that are approaching key deadlines. That moment is widely seen as a major turning point, because fully regulated spot ETFs would allow much easier trading of digital assets for even the most casual investor, and some estimates suggest that could mean tens of billions of dollars flowing into the industry.

Source: As Crypto World Watches for Spot Bitcoin ETF, SEC Chair Gensler Says (Again) Sector is Dangerous